Vanguard Lifetime Income Program - Dividend Growth Fund [QF]
Fund Overview
Expense ratio as of 05/01/20120.86%
Inception date10/10/2003
Portfolio number1255
3.5% Assumed Investment Return
AnnUV as of 01/22/2019$22.008161
Change–$0.165349 –0.75%
5% Assumed Investment Return
AnnUV as of 01/22/2019$17.647173


Dividend Growth Fund seeks to provide, primarily, current income and, secondarily, long-term growth of capital and income.

Learn more about this portfolio's investment strategy and policy.

Fund Style
TypeDomestic Stock - General
CategoryLarge Blend


Knowing a fund's investment style can help you understand how it might fit in your portfolio. This information can also help you build a portfolio that's broadly diversified across markets and less susceptible to sharp swings in any one market area.

Stock style
Vanguard uses a 9-box grid called a "style box" to show how a domestic stock fund's holdings are distributed by primary investment style (growth, value, or blend) and market capitalization category (large-, mid-, and small-cap companies).

Value Blend Growth    
Market Cap.

Average Annual Returns—Updated Quarterly as of 12/31/2018

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. See performance data current to the most recent month-end. Expense ratio information can be found on the Overview page.

Important Vanguard Lifetime Income Program performance information

Display data in bar chart

 1 Year3 Year5 Year10 YearSince Inception
VLIP-Dividend Growth Fund–0.34%8.15% 7.53%11.68%8.63%
Dividend Growth Spliced Index*–1.98% 10.29%7.71%12.45%7.76%
*Russell 1000 Index through January 31, 2010; NASDAQ US Dividend Achievers Select Index (formerly known as the Dividend Achievers Select Index) thereafter. Prior to December 6, 2002, the comparative benchmark was known as the Utilities Composite Index. The index weightings were: 40% S&P Utilities Index, 40% S&P Telephone Index, and 20% Lehman Brothers Utility Bond Index through April 30, 1999; 63.75% S&P Utilities Index, 21.25% S&P Telephone Index, and 15% Lehman Brothers Utility Bond Index through March 31, 2000; 75% S&P Utilities Index and 25% S&P Telephone Index through December 31, 2001; and 75% S&P Utilities Index and 25% S&P Integrated Telecommunication Services Index through December 6, 2002.